General Notice to RRIF Contract Holders
Recently the Canada Revenue Agency implemented 2015 Budget measures affecting RRIF contracts. The Budget approved the reduction of RRIF minimum withdrawal factors for annuitants ages 71 to 94 to better reflect long-term historical real rates of return and expected inflation.
Annuitants will be eligible to make a re-contribution of your RRIF withdrawal for the difference between your old and new minimum amount payment. If you wish to re-contribute and you are between the ages of 71 and 94 and only receiving the annual minimum please contact us for your Eligible RRIF withdrawal amount letter before December 31 2015. The deadline to make the re-contribution is February 29, 2016, and will be deductible for the 2015 tax year.
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